The comparative balance sheet of High Movie Company at March 31, 2020, reported the following: (Click the icon to view the current accounts.) High's transactions during the year ended March 31, 2020 included the following: (Click the icon to view the transaction data.) Requirements 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, using the indirect method to report cash flows from operating activities. Report non-cash investing and financing activities in an accompanying schedule. 2. Evaluate High's cash flows for the year. Mention all three categories of cash flows and give the reason for your evaluation. Requirement 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, using the indirect method to report cash flows from operating activities. Report non-cash investing and financing activities in an accompanying schedule. Start by completing the cash flows from operating activities. Then, continue with completing the investing and financing activities sections. Finally, determine the net increase (decrease) in cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in parentheses in a statement of cash flows.) The comparative balance sheet of High Movie Company at March 31, 2020, reported the following: (Click the icon to view the current accounts.) High's transactions during the year ended March 31, 2020 included the following: (Click the icon to view the transaction data.) Requirements 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, using the indirect method to report cash schedule. 2. Evaluate Hid Current accounts ason for your evaluation. The comparative balance sheet of High Movie Company at March 31, 2020, reported the following: (Click the icon to view the current accounts.) High's transactions during the year ended March 31, 2020 included the following: (Click the icon to view the transaction data.) Requirements 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, usin report cash fr schedule. 2. Evaluate Hig Transaction data \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Cash flows from operating activities: } \\ \hline \multicolumn{3}{|l|}{ Net income } \\ \hline \multicolumn{3}{|l|}{ Adjustments to reconcile net income to } \\ \hline \multicolumn{3}{|l|}{ net cash provided by operating activities: } \\ \hline \multicolumn{3}{|l|}{ Depreciation } \\ \hline \multicolumn{3}{|l|}{ Decrease in accounts receivable } \\ \hline \multicolumn{3}{|l|}{ Increase in inventories } \\ \hline \multicolumn{3}{|l|}{ Increase in prepaid expenses } \\ \hline \multicolumn{3}{|l|}{ Increase in accounts payable } \\ \hline \multicolumn{3}{|l|}{ Decrease in accrued liabilities } \\ \hline \multicolumn{3}{|l|}{ Increase in income tax payable } \\ \hline \multicolumn{3}{|l|}{ Net cash provided by operating activities } \\ \hline \multicolumn{3}{|l|}{ Cash flows from investing activities: } \\ \hline \multicolumn{3}{|l|}{ Purchase of equipment } \\ \hline \multicolumn{3}{|l|}{ Purchase of building } \\ \hline \multicolumn{3}{|l|}{ Sale of long-term investment } \\ \hline \multicolumn{3}{|l|}{ Net cash used for investing activities } \\ \hline \multicolumn{3}{|l|}{ Cash flows from financing activities: } \\ \hline \multicolumn{3}{|l|}{ Issuance of long-term note payable } \\ \hline \multicolumn{3}{|l|}{ Issuance of common shares } \\ \hline \multicolumn{3}{|l|}{ Payment of cash dividends } \\ \hline \multicolumn{3}{|l|}{ Net cash provided by financing activities } \\ \hline \multicolumn{3}{|l|}{ Net increase (decrease) in cash } \\ \hline \multicolumn{3}{|l|}{ Cash balance, March 31, 2019} \\ \hline \multicolumn{2}{|l|}{ Cash balance, March 31, 2020} & \\ \hline \multicolumn{3}{|l|}{ Non-cash investing and financing activities: } \\ \hline \multicolumn{3}{|l|}{ Acquisition of land by issuing } \\ \hline note payable & & \\ \hline \end{tabular} Requirement 2. Evaluate High's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. High Movie's cash flow looks Operations The company is The financing appears reasonable. The comparative balance sheet of High Movie Company at March 31, 2020, reported the following: (Click the icon to view the current accounts.) High's transactions during the year ended March 31, 2020 included the following: (Click the icon to view the transaction data.) Requirements 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, using the indirect method to report cash flows from operating activities. Report non-cash investing and financing activities in an accompanying schedule. 2. Evaluate High's cash flows for the year. Mention all three categories of cash flows and give the reason for your evaluation. Requirement 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, using the indirect method to report cash flows from operating activities. Report non-cash investing and financing activities in an accompanying schedule. Start by completing the cash flows from operating activities. Then, continue with completing the investing and financing activities sections. Finally, determine the net increase (decrease) in cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in parentheses in a statement of cash flows.) The comparative balance sheet of High Movie Company at March 31, 2020, reported the following: (Click the icon to view the current accounts.) High's transactions during the year ended March 31, 2020 included the following: (Click the icon to view the transaction data.) Requirements 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, using the indirect method to report cash schedule. 2. Evaluate Hid Current accounts ason for your evaluation. The comparative balance sheet of High Movie Company at March 31, 2020, reported the following: (Click the icon to view the current accounts.) High's transactions during the year ended March 31, 2020 included the following: (Click the icon to view the transaction data.) Requirements 1. Prepare High Movie Company's statement of cash flows for the year ended March 31, 2020, usin report cash fr schedule. 2. Evaluate Hig Transaction data \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Cash flows from operating activities: } \\ \hline \multicolumn{3}{|l|}{ Net income } \\ \hline \multicolumn{3}{|l|}{ Adjustments to reconcile net income to } \\ \hline \multicolumn{3}{|l|}{ net cash provided by operating activities: } \\ \hline \multicolumn{3}{|l|}{ Depreciation } \\ \hline \multicolumn{3}{|l|}{ Decrease in accounts receivable } \\ \hline \multicolumn{3}{|l|}{ Increase in inventories } \\ \hline \multicolumn{3}{|l|}{ Increase in prepaid expenses } \\ \hline \multicolumn{3}{|l|}{ Increase in accounts payable } \\ \hline \multicolumn{3}{|l|}{ Decrease in accrued liabilities } \\ \hline \multicolumn{3}{|l|}{ Increase in income tax payable } \\ \hline \multicolumn{3}{|l|}{ Net cash provided by operating activities } \\ \hline \multicolumn{3}{|l|}{ Cash flows from investing activities: } \\ \hline \multicolumn{3}{|l|}{ Purchase of equipment } \\ \hline \multicolumn{3}{|l|}{ Purchase of building } \\ \hline \multicolumn{3}{|l|}{ Sale of long-term investment } \\ \hline \multicolumn{3}{|l|}{ Net cash used for investing activities } \\ \hline \multicolumn{3}{|l|}{ Cash flows from financing activities: } \\ \hline \multicolumn{3}{|l|}{ Issuance of long-term note payable } \\ \hline \multicolumn{3}{|l|}{ Issuance of common shares } \\ \hline \multicolumn{3}{|l|}{ Payment of cash dividends } \\ \hline \multicolumn{3}{|l|}{ Net cash provided by financing activities } \\ \hline \multicolumn{3}{|l|}{ Net increase (decrease) in cash } \\ \hline \multicolumn{3}{|l|}{ Cash balance, March 31, 2019} \\ \hline \multicolumn{2}{|l|}{ Cash balance, March 31, 2020} & \\ \hline \multicolumn{3}{|l|}{ Non-cash investing and financing activities: } \\ \hline \multicolumn{3}{|l|}{ Acquisition of land by issuing } \\ \hline note payable & & \\ \hline \end{tabular} Requirement 2. Evaluate High's cash flows for the year. Mention all three categories of cash flows, and give the reason for your evaluation. High Movie's cash flow looks Operations The company is The financing appears reasonable